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Petoskey Multifamily Investment Opportunity

524 State St, Petoskey, MI 49770

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For Sale

$850,000

Well-maintained 6-unit multifamily property near downtown Petoskey.

Type:Investment

HighLights

Very walkable location (Walk Score 88) near downtown, schools, and employment.
Stable tenancy with in‑place rent of ~$8,150/month.
Recent upgrades including exterior paint, porch rebuild, foundation work, and breezeway update.
Mix of renovated units with durable finishes.
Strong rental history with opportunity to increase rents.
Well‑maintained 6‑unit multifamily property.

We can help!

Listing Contact

Christopher Skrobeck

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For Sale

$850,000

Well-maintained 6-unit multifamily property near downtown Petoskey.

Type:Investment

Added:: Apr 26, 2026
Days on Market:: 50
Last Refresh:: Apr 26 at 12:37 pm

Property Features for 524 State St

General Information

Standard status: Active
Property subtype: Investment

Building Details

Year Built: 1900

We can help!

Listing Contact

Christopher Skrobeck

Listing agent Christopher Skrobeck

Listing office Van Treese Management LLC

Listing date Apr 26, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Van Treese Management LLC

HighLights

Very walkable location (Walk Score 88) near downtown, schools, and employment.
Stable tenancy with in‑place rent of ~$8,150/month.
Recent upgrades including exterior paint, porch rebuild, foundation work, and breezeway update.
Mix of renovated units with durable finishes.
Strong rental history with opportunity to increase rents.
Well‑maintained 6‑unit multifamily property.

Overview

This classic, well-maintained 6-unit multifamily property is located in a walkable Petoskey neighborhood, conveniently close to downtown, schools, and employment opportunities. The property features a mix of renovated units with durable finishes. Recent upgrades include exterior paint, a rebuilt porch, foundation work, and a breezeway update. The property has city utilities, clean common areas, a covered front porch, and landscaped grounds. The current in-place rent is approximately $8,150 per month with stable tenancy. The property has a strong rental history and offers the opportunity to continue an interior refresh program to capture market rent on renewals and turns. The location has a walk score of 88, indicating it is very walkable, and a bike score of 44, indicating it is somewhat bikeable.

Location Intelligence

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Local Demand

City: Petoskey
County: Emmet
State: Michigan
Longitude: -84.9517928
Latitude: 45.3715453

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For sale
Apartment buildings
MI
Petoskey
49770
524 State St

What type of property is this?

Apartment building - Well-maintained 6-unit multifamily property near downtown Petoskey.

Where is this apartment building located?

The property is located at 524 State St Petoskey, MI.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Very walkable location (Walk Score 88) near downtown, schools, and employment.; Stable tenancy with in‑place rent of ~$8,150/month.; Recent upgrades including exterior paint, porch rebuild, foundation work, and breezeway update.